Malaysia's RHB halves planned purchase of Mestika Bank stake

KUALA LUMPUR Thu Jan 31, 2013 10:17pm EST

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KUALA LUMPUR Feb 1 (Reuters) - RHB Capital Bhd, Malaysia's fourth largest lender, has cut its proposed stake purchase in Indonesia's PT Bank Mestika Dharma to 40 percent from the 80 percent it previously hoped to buy, according to a stock exchange filing on Thursday evening.

It has offered 651.13 million ringgit ($209.57 million) for the reduced stake, down from the 1.1 billion ringgit it said it would pay for 80 percent of the bank.

Indonesia's central bank said last July it was capping single-party ownership of domestic banks at 40 percent, but would allow exemptions that pave the way for DBS Group's $7.2 billion bid for PT Bank Danamon to proceed.

RHB has also terminated its option to buy an additional 9 percent of Bank Mestika should the target firm list publicly, RHB said.

($1 = 3.1070 Malaysian ringgit) (Reporting By Yantoultra Ngui; Editing by Daniel Magnowski)

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